systematic abuse accuses royal bank of scotland of the systematic abuse of its business customers. accuses royal bank of scotland of the systematic abuse of its business customers — hundreds of customers complained they were mistreated. rbs denies the accusations. travel delays are expected over the bank holiday weekend as engineering and roadworks take place on some of the country's busiest routes. the police watchdog has said that the paedophile ian watkins could have been arrested nearly four years earlier if south wales police had investigated numerous tip—offs. at least 28 people have been killed in violent clashes following the rape conviction of a controversial religious leader in north india. texas braces itself for hurricane harvey, the worst storm to hit the us mainland in 12 years. in a moment it will be time for sportsday, but first a look at what else is coming up this evening on bbc news. as the road and rail networks face the full force of the bank holiday getaway, we'll be asking what's the best way forward for britain's transport system. texas prepares for hurricane

of scotland. it will turn breezy later in the day. top temperatures of 2a celsius. hello. this is bbc news. the headlines at 8.30pm. a leaked report accuses royal bankey were mistreated. rbs denies the accusations texas braces itself for hurricane harvey, which has just become a category three storm, the worst to hit the us mainland in 12 years. travel delays are expected over the bank holiday weekend as engineering and roadworks take place on some of the country's busiest routes. at least 28 people have been killed in clashes in india after a controversial self—styled religious leader was convicted of rape. violent protests have broken out in the states of punjab and haryana, which includes the home town of gurmeet ram rahim singh. thousands of his devotees went on the rampage after he was found guilty of raping two women 15 years ago. there are also reports of arson attacks in the capital, delhi. from there, our south asia correspondent justin rowlatt reports. violence broke out almost as soon as the guilty verdict was handed down by the court in this town in north india. more than 100,000 followers of the self—styled godman guru, had blocked to d

a leaked report accuses royal bank of scotland of the systematic abuse of its business customers.dreds of customers complained they were mistreated. rbs denies the accusations. and on newsnight, as the battle for raqqa rages, how might so—called islamic state react? and could women really beat men at the marathon? good evening and welcome to bbc news. a man has been arrested tonight in an incident outside buckingham palace. i think we have some pictures of the scene we can i think we have some pictures of the scene we can show you. i think we have some pictures of the scene we can show you. yes, that's it. not much happening at the moment because two police officers were injured as the man was detained for possession of a knife. joining me now is our correspondent, laura tra nt. the man was stopped by police shortly after 8:30pm outside buckingham palace. he had a knife and as those police officers tried to detain him they sustained what's been described as minor injuries to arms. the london ambulance service was called. they treated the two officers at the scene and they weren't

but instead of helping them — their bank, royal bank of scotland, which itself had to be bailed out —cused of systematic abuse of its customers. a leaked report by the financial conduct authority — seen by the bbc — says it mistreated almost all of its customers with 92% of viable firms experiencing "some form of inappropriate action" by the bank. one small business owner has told the bbc he considered suicide. rbs denies the allegations. here's our business correspondentjoe lynam. it's britain's biggest lender to businesses, its customers are the backbone of our economy, but a major report has highlighted the scale of mistreatment faced by some at the hands of rbs. we opened in december 98... this man used to own bowling complexes and was an rbs customer for decades. when when profits fell during the recession, his bowling business was placed into the restructuring unit, supposedly to get the company back on its feet. it was like the gestapo walking in. the aggression, the divisiveness, the whole way in which they'd talked. they would bang tables, shout, point fingers. the whole thin

tonight at ten: the bank bailed out by the taxpayer — now a damning report accuses royal bank of scotlandf the systematic abuse of many of its business customers. it reveals how businesses in trouble were deliberately mistreated by the bank — rbs has set aside hundreds of millions of pounds for compensation. it was like the gestapo walking in, their aggression, their divisiveness, the whole way in which they'd talked. rbs — the biggest business lender in the uk — has apologised for some of its practices but denies systematic mistreatment. also tonight: police in brussels shoot dead a man who attacked two soldiers with a machete — it's being treated as a terrorist incident. hurricane harvey gathers strength as it heads towards texas — it could be the biggest storm to hit america in more than a decade. riots in india after a self—style spiritual guru is convicted of rape — at least 28 people die as his followers go on the rampage. the driverless cars being deliberately crashed as insurers try to work out who'd be to blame in an accident — the motorist or the computer? and one of the most hy

tonight at six: a damning report accuses royal bank of scotland of the systematic abuse of its business hundreds of the banks' business customers complained they were mistreated, one man tells us he considered suicide. it was like the gestapo walking in, the aggression, the divisiveness, the whole way in which they'd talked. rbs, the biggest lender to companies in the uk, denies the allegations. we'll be asking what more can be done to protect customers? also on the programme: convoys of lorries, linked by wi—fi, with only one driver, they'll be tested on britain's roads next year to try to cut emissions and reduce congestion. more than 20 people have been killed in violence in india after a self—styled spiritual guru was convicted of rape.

royal bank of scotland sees its first half—year profit in three years.2 billion loss in the same period last year. theo leggett is in our business newsroom. looking through the numbers, what do you make of it? they are very strong numbers for the first top of this year and i think that reflects what rbs has been doing, which is consolidating its attention on its uk and ireland —based retail and corporate banking. trying to focus more on its core businesses. the comparison with last year is a bit misleading because last year, for example, rbs made its final dividend payment to the uk government, which was more than £1 billion. it also had a big amount of money set aside for payment protection insurance payment and so on. so there were a lot of one—off items that made the figures seem worse than they were. it is moving its headquarters?m it is moving its headquarters? it is talking about moving them if it loses its european passport rights of the brexiter. it already has a dutch banking licence acquired as its legacy of another purchase in 2007. that was t

a leaked report accuses royal bank of scotland of the systematic abuse of its business customers.eated. rbs denies the accusations.

it will take the royal bank of scotland into a rock so royal bank of scotland into a rock so mike rossear. there is a lot to be very happy about but we are going to be at least another two years. the share price went up 2.5% today but is still what half we need. with trepidation, simon mccoy wants to was... i wondered! ben trepidation, simon mccoy wants to was... iwondered! ben broadbent said that the rate increase will be higher than we are all the ring. rates could go to 1% by the end of 2018. -- rates could go to 1% by the end of 2018. —— than we are all fearing. what i do think is that if interest rates to go up, the wafers in margins that people have and the percentage increase of borrowing costs would pretty much kill the economy have. it is pretty weak as it is at the moment. unless we can get wage inflation up dramatically and also economic activity, there is no question about lack of clarity in the brexit negotiations temporarily damaging us. i think we had better sit on our hands and leave those interest rates where they are. car sales notably down for a fourth month in a row

the royal bank of scotland, still mainly owned by the taxpayer, reports substantial profit for the first half of the year. ireland's prime minister and challenges britain to come up with an answer to the difficult issue of the irish border. the brazilian forward neymar‘s unveiled at paris st—germain, as the most expensive player in the history of football. as the deadly heatwave in europe continue, a warning for holiday—makers and those living in countries with temperatures now reaching over a0 degrees. and i am here at the london stadium as mo farah goes for gold on the opening day of the world athletics championships. and coming up in the sport on bbc news, england won the toss and decided to bat on the first morning of the fourth and final test at old trafford — they lead the series 2—1. good afternoon and welcome to the bbc news at one. the man leading the investigation into claims of collusion between president trump's election campaign and russia, has convened a grand jury and russia, has convened a grand jury to consider whether there are grounds for criminal charges. the panel of

some other business stories we've been following: spin royal bank of scotland shares are up 5%, cominge help to buy scheme. that has really hit the companies. taylor wimpey is down 6.a points. the euro is looking quite strong, the pound is looking quite strong, the pound is looking quite strong, the pound is looking weak against the euro. that's all the business news. we will be back later soon. the 70th edinburgh international festival gets under way later. created in the aftermath of the second world war — to give a "platform for the flowering of the human spirit" — the arts and culture extravaganza is now the largest in the world. as thousands of performers prepare to fill hundreds of venues once again, we meet the couple who've been there since the beginning. this is ingrid and henry wuga's story. may, 1939, i came by kinder transport, a traumaticjourney by train from germany through holland, and eventually we landed in great britain. the child refugees from germany... i'm 90...i think i'm 92. 93. lam not 93, am i? you are, dear. we were all interested in music. when music was goin

the royal bank of scotland was back in profit in the six months tojune, the first time it's been in thestill mostly owned by taxpayers, made a recorded profit, of £939 million, compared with a £2 billion loss, in the same period last year. the headlines on bbc news: a one—man world superpower — sir mo farah celebrates with his family after winning gold in the 10,000 metres on the opening night of london's world athletics championships. ireland's prime minister tells britain the clock is ticking on brexit — and accuses theresa may's government of having no plan for the irish border. president trump calls the russia allegations ‘a fake story‘ — as the possibility of criminal charges grows. hello and welcome to our look ahead to what the front pages will be bringing us tomorrow. with me are two political commentators and former downing street advisers, lance price and giles kenningham. tomorrow‘s front pages, starting with the daily mail, which leads with the daily mail, which leads with accusations that the national trust is exploiting the rights of their volunteers by making them where g

the royal bank of scotland saying, it will now move its european headquarters to amsterdam. is just one of a string of financial institutions making the jump. reporter: london is europe's financial camp -- capital. almost all the major banks have headquarters here. it is where 1/5 of global transactions take place. it is one of the key sectors of the british economy, adding around 7% of gross value. but that may soon come to an end, thanks to brexit. financial institutions could soon be moving their european headquarters away from london, to keep them inside the e.u. most banks have chosen frankfurt, including deutsche bank and j.p. morgan. second place is paris. french banks like bnp paribas are heading home. also, amsterdam. frankfurt is pulling out all the stops to attract the big banks. there are thousands of well-paid employees. it is far from clear that can be enough to knock london from its pedestal, when it comes to banking. reporter: 2017 will be a great vintage for italy's winemakers. a heat wave has crated the perfect conditions for an early grape harvest. black p

royal bank of scotland, rbs, made over £900 million in profit in the last six months.tax—payer, may not make a full year profit. it all depends on how much it has to pay out in legal costs in court cases in the us that relate to the 2008 financial crisis. one of the uk's biggest business lobby groups has urged the cabinet to stop "dancing around the edges" of brexit. the institute of directors — it has about 30,000 members — has criticised the cabinet for engaging in what it called "a range of speculative arguments over transition". it warned that without agreement, business faces "short—term chaotic cliff edges". good afternoon. more impressivejobs numbers out of the us. the world's biggest economy added 209k new positions injuly. samira hussain is in new york. so, this is impressive because it's ahead of expectations? yes, absolutely. analysts were only expecting about 180,000 jobs for the month ofjuly. but this really came in much higher than expected at 2009000 jobs. you'll remember when we look at the jobs report from june it was a similar scene. investors weren't

which bailed out a number of these affected banks during the financial crisis points the finger u.k. giants including barclays lloyds banking group and royal bank of scotland the claims on behalf of thirty nine american banks it's part of a much broader rigging scandal which came to light back in two thousand and twelve joining me now. now from london steve keen the author of can we avoid another financial crisis and the world's first crowd funded economist at page tran dot com steve thanks for joining me now let's talk about this case do you think the u.s. government actually has a solid case here. or has a rock solid case this is a classic case of collusion and market manipulation and the trial is a model just go into the court and so i like them as they were guilty what's the follow on that's that's frightening but let's look at what a lot of people are asking which is essentially who sets and enforces the rules where was the oversight in this panel this is a huge scandal. well the problem is that if you look at a lot of our actually came from an actual concept of using it as a by sustaining interest rights. mainly private bonds but also some government

but instead of helping them their bank, the royal bank of scotland, has been accused of systematicallyeating many of them. a leaked report for the financial conduct authority, and obtained by the bbc, reveals the extent of that abuse. it shows that hundreds of companies which the bank said needed restructuring were treated inappropriately, in many cases deliberately. one business owner has told the bbc he considered suicide. rbs denies the allegations. here's our business correspondent, joe lynam. we bailed out rbs when it was in trouble, but when thousands of its business customers got into difficulties, the bank, in many cases, was much less generous. the uk's biggest business bank has admitted that it mistreated many small firms, but now we have learned about the scale of this mistreatment. tracy standish was the former owner of the bowlplex chain and had been an rbs customer for decades. tunbridge we opened in december ‘98. when profits fell during the recession, his bowling business was placed into rbs‘s restructuring unit, grg, supposedly to get the company back on its feet. it w

royal bank of scotland, rbs, made over £900 million in profit in the last six months.it all depends on how much it has to pay out in legal costs in court cases in the us that relate to the 2008 financial crisis. one of the uk's biggest business lobby groups has urged the cabinet to stop "dancing around the edges" of brexit. the institute of directors — it has about 30,000 members — has criticised the cabinet for engaging in what it called "a range of speculative arguments over transition". it warned that without agreement, business faces "short—term chaotic cliff edges". good afternoon. new research from the federation of small businesses shows the majority, 6a%, of small firms impacted by the national living wage have stretched to meet the latest rise by taking lower profits. two in five, 39%, small businesses affected by the national living wage have put up prices to cope with the latest increase to £7.50 per hour. alan soady is from the federation of small businesses. good afternoon, alan. alan, the hike in the national living wage was always going to mean adjustmen

country tonight at ten: the bank bailed out by the taxpayer — now a damning report accuses royal bank of scotlandouble were deliberately mistreated by the bank — rbs has set aside hundreds of millions of pounds for compensation. it was like the gestapo walking in, their aggression, their divisiveness, the whole way in which they'd talked. rbs — the biggest business lender in the uk — has apologised for some of its practices but denies systematic mistreatment. also tonight: police in brussels shoot dead a man who attacked two soldiers with a machete — it's being treated as a terrorist incident. hurricane harvey gathers strength as it heads towards texas — it could be the biggest storm to hit america in more than a decade. riots in india after a self—style spiritual guru

let's take a look at some of the day's other top stories: the royal bank of scotland was back in profithe black since 2014. the bank, which is still mostly owned by taxpayers, made a recorded profit, of 939 million pounds, compared with a two billion pound loss, in the same period last year. the nhs says it's found a bed for a suicidal teenager, whose case prompted a seniorjudge to issue a scathing attack on services for children with mental health problems. the head of the family courts in england and wales said if a safe place wasn't found for the girl on her release from a secure unit, then the state would have blood on its hands. two officers and two pilots, accused of misusing a south yorkshire police helicopter to film naked sunbathers and a couple having sex have been cleared of all charges. during the trial, the four men blamed a former colleague, pc adrian pogmore, who'd already admitted misconduct in a public office. they're young, british, and taking on hollywood. a new generation of black actors, including john boyega in the blockbuster star wars, have been trained at the id

the royal bank of scotland was back in profit in the six months tojune, the first time it's been in thetly owned by taxpayers, made a recorded profit of £939 million, compared with a £2 billion loss in the same period last year. airlines are urging british holidaymakers in europe to allow extra time to get through security and passport controls this weekend. the eu has been struggling to implement tighter checks because of a lack of trained staff. the nhs says it's found a bed for a suicidal teenager, whose case prompted a seniorjudge to issue a scathing attack on services for children with mental health problems. the head of the family courts in england and wales said, if a safe place wasn't found for the girl on her release from a secure unit, then the state would have "blood" on its hands. sales of new cars have fallen for the fourth month in a row. two officers and two pilots, accused of misusing a south yorkshire police helicopter to film naked sunbathers and a couple having sex, have been cleared of all charges. during the trial, the four men blamed a former colleague, pc adrian p

the royal bank of scotland is to cut jobs in order to restructure.n it jobs. rbs says the move is necessary to becomes a simpler, smaller bank focused on the uk and ireland. we're going to start with those unemployment figures — sounds like good news — at 75.1%, the proportion of people in work is the highest it has been since 1971. but the amount we are being paid for that work isn't keeping up with the rate at which prices are rising — yesterdays inflation figures told us average prices are up 2.6% and altho todays wage growth figures were slightly better than expected at 2.1% — that actually means we are taking a pay cut of 0.5%. joining us now is steve bell, chief economist, at bmo global asset management. they are spending pounds that is worth less. we are being squeezed. it is not surprising that employers are putting up wages. they don't have that as profit. we can run this economy with low unemployment, that has acted quite good news. it is a screed and anyone who is paying for rail fares screed and anyone who is paying for railfares as we sc

a leaked report accuses royal bank of scotland of the systematic abuse of its business customers — hundredsle way in which they talked. major travel disruption is expected across the uk as millions try to get away for the bank holiday weekend while engineering works are carried out on some of the country's busiest rail routes. police in northern india say at least 28 people have been killed in violent clashes at after a self—styled religious leader is convicted of rape. also in the next hour — texas braces itself for hurricane harvey.

royal bank of scotland, rbs, made over £900 million in profit in the last six months.he bank, still 73% owned by the tax—payer, may not make a full year profit. it all depends on how much it has to pay out in legal costs in court cases in the us that relate to the 2008 financial crisis. one of the uk's biggest business lobby groups has urged the cabinet to stop "dancing around the edges" of brexit. the institute of directors, it has about 30,000 members, has criticised the cabinet for engaging in what it called "a range of speculative arguments over transition". it warned that without agreement, business faces "short—term chaotic cliff edges". good afternoon to you. we've been talking about the gender pay gap quite a bit over the last few weeks. the average female worker in the uk earns 13.9% less than her male counterpart — based on the mean average for full—time employees. that translates to just over 86p for every pound a man earns. joining us now is tv host and author, june sarpong. thank you forjoining us. you spoke a lot about the gender pay gap. why is it such a

royal bank of scotland has reported its first half—year profit in three years. taxpayer, made almost £940 million in the six months to the end ofjune, compared with a loss of £2 billion in the same period last year. the irish prime minister, leo varadkar, will address the issue of brexit and the border with northern ireland this morning, when he makes his first official visit to the province. in the past he's said the roads should remain open, but has cast doubt on the british government's suggestion that technology could be used to monitor trade. unionists have described some of his comments as "unhelpful". hmrc has pledged to make ‘significant improvements‘ to it's new child benefit website after complaints from thousands of parents. the treasury select committee has demanded the change. the site is meant to help parents access the tax—free childcare scheme and free childcare for all three and four—year—olds. parts of europe are experiencing their warmest sustained heatwave in more a decade. temperatures peaked at more than a0 degrees in parts of italy, spain

of that you also have a boom yield climbing today, but all of the highs on the recession, royal bank of scotlandwing into a profit for the first time in three years, calling it the best six-month result since the financial crisis on the flip side of things, it's been a rough day for uk homebuilders you've got barratt, also p persimmon. they could wind down or replace it ahead of schedule that program will end in 2021. pearson, the education publisher slashing its dividends and about 300 jobs they have been hurt by that trend toward digital textbooks they've lost their value in the last 12 months but sara, remember, at the end of the worldwide exchange, things were tepid. now they're really robust. >> i remember, don you guys remember, don't you >> john and i were e-mailing at 5:00 going, look at the action in europe. >> it's interesting that european stocks did better than u.s. stocks did because they finally got a 1% weaker euro helping the exporter stock sleep well tonight >>> let's get back to sue herrera with the update. sue? >>> afghan officials say a taliban suicide bomber struck a nato pa

the royal bank of scotland, which is still predominantly owned by the taxpayer, has reported a substantialillion loss in the same period last year. the bank made almost £940 million in the six months to the end ofjune. it also announced it's in talks to move its european headquarters to amsterdam after britain leaves the eu. our business correspondent joe lynam reports. it's been posting annual losses for almost a decade but today, at least, it can say that things were looking up in the first half of the year. rbs made what's called an attributable profit of £939 million over the past six months. that reversed losses of more than £2 billion over the same period a year ago. and unlike barclays or lloyds, rbs won't be setting aside any more money for ppi. its boss admitted that taxpayers would not be getting their money back in full if the government sold its shares in rbs immediately. if we sold it, they wouldn't get their money back, but it is... what we're trying to do is create a good bank so they get as much of that money back as possible. and a 70% stake won't be sold overnight. so it

they also have an interesting story here about the royal bank of scotland. m contingency plan. 0bviously an amsterdam contingency plan. obviously we spoke about that earlier this week, with rbs saying that a fewjobs, about 150, would be based in holland in the netherlands. just as it is preparing to brexit, as the uk leads the eu. peter russia will be with us with papers later on. the main stories this morning: mo farah has secured a 10th straight global title at the athletics championships in london. he begins his long goodbye. prosecutors in the us say a british computer expert has admitted to creating software that steals ba n k admitted to creating software that steals bank details, an allegation his lawyer denies. here's jay with a look at this morning's weather. here's jay with a look good morning. that looks ominous! 0minous but promising, maybe? a bit ofa 0minous but promising, maybe? a bit of a mixed bag. 0minous but promising, maybe? a bit ofa mixed bag. some 0minous but promising, maybe? a bit of a mixed bag. some sunshine, that isa of a mixed bag.

is why banks like northern rock and newman brothers in america disappeared and others like royal bank of scotlandk now tojude hill. she lost her family home and her holiday home when the credit crunch hit, her marriage collapsed soon after. michael foote was working on the trading floor for a stockbrokers in the city — but was fired when the crunch hit. and in maidstone is paul, who built up debt of around £60,000 on credit cards — at one point he had 20 credit cards in total. he‘s asked us to only use his first name. welcome. dude, you were doing well, you and your husband a holiday home in florida. what happened? it because america went down before we did. looking back, we had bought at the wrong time. their economy went and it plummeted. we thought we would rented out to americans to cover the money and on ourjobs cover the money and on ourjobs cover what we have to pay here and ride it out but unfortunately the american family we rented to stop paying rent after being given that a month or two and so we had to get them evicted and that took several months. then the house over there was forecl

the royal bank of scotland, which is still predominantly owned by the taxpayer, has reported a substantialalmost £940 million in the six months to the end of]une. it also announced its in talks to move its european headquarters to amsterdam after britain leaves the eu. our business correspondent joe lynam reports. it's been posting annual losses for almost a decade, but today at least, it can say that things were looking up in the first half of the year. rbs made what's called an attributable profit of £939 million over the past six months. that reversed losses of more than £2 billion over the same period a year ago. and unlike barclays or lloyds, rbs won't be setting aside any more money for ppi. its boss admitted that taxpayers would not be getting their money back in full if the government sold its shares in rbs immediately. if we sold it, they wouldn't get their money back, but it is... what we're trying to do is create a good bank so they get as much of that money back as possible. and a 70% stake won't be sold overnight. so it will take some time and this bank is getting better every

in other business news: royal bank of scotland is to cut more than 800 itjobs as part of a major reorganisationuk and ireland. whilst its president trump‘s communication tool of choice, it‘s a tweet by former president barack 0bama that has become the most liked in twitter‘s history. the tweet quoted nelson mandela with a picture of mr 0bama with a group of children from different racial backgrounds. it has been liked almost three million times since it was posted on 13th august following the attack in charlottesville, virginia. nestle is launching three new varieties of the walnut whip, its oldest chocolate brand, without a nut on their peak. the question is, has the maker of the walnut whip gone too far in removing the famous nuts, from a new version of the chocolate? shares in admiral sank as much as 7% earlier today after the insurer said the rising cost of personal injury claims hit profits. shares in construction firm balfour beatty have jumped 5% after a strong set of results implied its turnaround was on track. the drop in the number of unemployed people in the uk plus a nudge up in wag

some interesting financial results from the royal bank of scotland this morning — ben is here. taxpayers. we will keep across that, then, thank you very much. police in australia say two men charged with plotting to bring down a plane were taking directions from a senior commander in the so—called islamic state group in syria. investigators believe they had made a bomb using military—grade explosives. a third man is still being questioned. one of the world‘s tallest residential buildings, the torch tower in dubai, has caught fire for the second time in two years. firefighters say the 79—storey building was evacuated without any injuries and the blaze is now under control. a previous fire in 2015 was blamed in part on flammable cladding. the england women‘s football team were knocked out of the euros last night by tournament hosts, the netherlands. good match, nevertheless. and they had done brilliantly to get to the semifinals. the lionesses suffered a 3—0 defeat in the semi finals, bringing to an end their hopes of lifting the trophy. our sports correspondent katie gornall was

and royal bank of scotland and lloyds tsb received billions of pounds of taxpayers‘ money. e rules for banks. they have to hold more capital for emergencies and they‘ve been forced to tighten up their lending rules. but the big question is, 10 years on, have we learned the lessons and could it happen again? tom stevenson is from the financial firm fidelity international. can you remember what you are doing ten yea rs can you remember what you are doing ten years ago? yes, i was on holiday, in america, i was enjoying the fact that the pound was doing so well. interest rates were about five and three quarters at the time, it was a completely different world. when things started to unfold, it just showed... it was a real mess? yes, it was. authorities stepped in and took some extraordinary measures. the most important of those was slashing interest rates to zero. at the time, everyone thought, these are emergency measures. this will be short lived. interest rates will be short lived. interest rates will go back to normal levels quite quickly. but we are ten years on and interes

royal bank of scotland is to cut more than 800 itjobs as part of a major reorganisation.s still aren‘t rising enough to catch up with rising prices, and so the squeeze on real incomes continues. joining us now is steve bell, chief economist, at bmo global asset management. first of all, your thoughts on the headline rate, falling to 4.4%, war people in work. great news on jobs. —— more. not so good news on pay. pay is inching up. slower than inflation. the reason for that is that the pound has fallen a lot in the last year and you are spending pounds that are worth less, so whether you are on holiday abroad or buying an imported good, you are being squeezed. it is not a rising employers aren‘t putting up wages because they don‘t have that in profit. what it means is that we can run this economy with low unemployment, good news. good news is that more is in work, but that is is that more is in work, but that is is we‘re not getting paid more. we are half a percent worse. it doesn‘t sound like a lot, but it affects our pocket quite a lot. it is a squeeze. anyone paying for